Govt grants Maharatna status to Power Finance Corporation; Stock up 1%

The grant of Maharatna status to PFC is set to impart enhanced powers to PFC's board while taking financial decisions.

Oct 13, 2021 10:10 IST India Infoline News Service

Power Finance Corporation Ltd.
The government has granted the ''Maharatna'' status to state-owned Power Finance Corporation Limited (PFC), a move that will pave the way for the company’s greater financial and operational efficiency, according to a company statement. "Government of India, Ministry of Finance, Department of Public Enterprises has conveyed grant of Maharatna Status to Power Finance Corporation,” the company said in a filing.

The grant of ''Maharatna'' status to PFC is set to impart enhanced powers to PFC''s board while taking financial decisions.

The delegation of powers, exercise of delegated powers and review of the performance relating to the Maharatna Status of PFC will be governed as per the guidelines laid down vide Department of Public Enterprises.

At around 10.48 AM, Power Finance Corporation Ltd was trading at Rs143.50 per piece up by Rs1.5 or 1.06% from its previous closing of Rs142 per piece on the BSE.

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